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H.R.1654: Budget Process Improvement Act of 2013

About this Bill

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Sponsor Jim Renacci, R-Ohio
Total Cosponsors 11 (7 Democrats, 4 Republicans)
Introduced April 18, 2013
Latest Major Action April 18, 2013
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Bill Progress

  • Bill introduced in the House   
  • Bill passed in the House   
  • Bill passed in the Senate   
  • Bill signed into law

Bill Summary

Budget Process Improvement Act of 2013 - Amends the Congressional Budget Act of 1974 (CBA) to require: (1) the Director of the Congressional Budget Office (CBO) to include a descriptive analysis for the second decade budget impact of a measure when submitting a cost estimate of it, and (2) the Joint Committee on Taxation (JCT) to provide such an analysis when its submitting revenue estimates to CBO.

Requires the Office of Management and Budget (OMB) to publish a report on the size, scope, risk, and cost of the contingent federal liabilities, including the implicit guarantees to government sponsored enterprises (GSEs) such as the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac).

Requires the Secretary of the Treasury to conduct performance reviews of JCT-identified tax expenditures on an ongoing basis.

Requires OMB to: (1) develop a proposal for the implementation of an accrual-based accounting sy...

(Source: Congressional Research Service)

Bill Actions

Date Description
April 18, 2013 Referred to House Ways and Means
April 18, 2013 Referred to House Oversight and Government Reform
April 18, 2013 Referred to House Rules
April 18, 2013 Referred to House Budget